China will increase its military budget by 7.2%
Kyiv • UNN
China will increase its defense budget for 2024 by 7.2% to 1.67 trillion yuan ($230.6 billion) and will focus on reunification with Taiwan.
In 2024, China will increase defense budget spending by 7.2% to 1.67 trillion yuan ($230.6 billion), Reuters reports, citing a draft budget prepared before the opening of the National People's Congress, UNN reports .
Details
According to the document, the GDP growth target for this year is 5%, the agency reports.
Reuters also has a report accompanying the draft budget. It states, in particular, that China will resolutely oppose "separatist activities aimed at Taiwan's independence and external interference." The document emphasizes that the PRC will be "resolute in pursuing the reunification of China.
The agency notes that the report does not contain the phrase "peaceful reunification," which was used in similar documents in previous years.
Reuters reports that China has been increasing defense spending for the ninth year in a row. In 2023, China also increased its military budget by 7.2% to 1.55 trillion yuan (about $224.8 billion).